New vision to secure a bright future for Wales’ retail sector

New vision sets out how the Welsh Government, the retail sector and trade unions will work together to develop a successful, innovative, sustainable and resilient sector. 

Better pay and conditions, greater job security, improving career progression and a commitment to creating a skilled future workforce are at the heart of a new vision to revitalise Wales’ retail sector being launched today by the Welsh Government.

The Shared Strategic Vision for the Retail Sector sets out how the Welsh Government, the sector and trade unions will work together in social partnership to ensure retail has a bright and sustainable future in Wales, which provides fair and rewarding career opportunities for its current and future workers.

The retail sector is hugely important to the Welsh economy. It is Wales’ largest private sector employer, providing jobs to more than 114,000 people, contributing 6% of Wales’ GVA.

The Welsh Government values the jobs, goods, community services and benefits the sector provides. Ministers are committed to working with partners to support a sustainable and prospering retail sector that remains at the heart of Welsh communities, which offers people fair work and real career opportunities.

The changing face of our town centres is vital to retail and in turn our town centres need a successful and resilient retail sector. 

The Vision outlines the major challenges facing the sector, and defines the key areas where action is needed.

Economy Minister, Vaughan Gething and Deputy Minister for Social Partnership, Hannah Blythyn, are jointly launching the Vision today during a visit to independent bookshop, Storyville and Boots the Chemist in Pontypridd town centre.

Economy Minister, Vaughan Gething said:

“Retail in Wales is hugely important to our economy, our communities, and our well-being as a nation. Retail is all around us in every part of Wales - in every village, town and city. We very much value the jobs, goods, community services and benefits it provides.

“Our appreciation of the retail sector, as a cornerstone of the foundational economy, has only grown through the Covid pandemic - but we know a successful and resilient retail sector does not happen by accident. That’s why it is important we nurture the environment in which it can grow and adapt, especially in response to shift to a more circular economy.

“The shared vision we are launching today commits the Welsh Government and the retail sector to an ongoing dialogue and close working to rise to the challenges ahead. We know there are no quick fixes, easy solutions, or infinite budgets.  What we do have, however, is a willingness to work in social partnership, with the Welsh Government, employers, business representative bodies and trade unions working together to understand where we are now, where we want to get to, and how we can get there.

“The Welsh Government is determined to improve the quality of life and the conditions that will make Wales an attractive place for individuals and businesses to plan their futures. I firmly believe the retail sector has a vibrant future, and will continue to be a key player within the Welsh economy.”

The Strategic Vision will be followed by a delivery-focussed Action Plan in the coming months.